Effective pricing plans can be the single most important piece in the over all pricing strategy.
Some of the questions that it answers are: Is your price metric encouraging or hindering usage? Are the number of options and features optimal or are they overwhelming the buyers? Can a smart product bundling significantly increase volume uptake?
Every industry has more or less standard price plan. However the disruptive competitors, keep coming up with new price plans that increases their market share and margin. Off late many companies have started offering subscription based plans, in industries where it was inconceivable earlier.
What is Price Plan Redesign? Price Plan Redesign is a service that helps clients identify a price plan which has the potential for highest long term profit.
How is it done? To begin with a set of most promising price plans are selected from our data base. These price plans are tested in the market for their acceptance.
Then the initial set of shortlisted plans is generated, which is studied in detail.
The data is fed to the simulation tool, which gives us multiple options and their revenue implications.
How does it help the clients? Price Plan Redesign helps the clients validate the efficacy of their current plan and offers alternatives to improve revenue.
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